Cryptocurrency exchange-traded products (ETPs) have faced significant outflows, with $1.7 billion withdrawn over the past week, marking the fifth consecutive week of declines. This trend represents the longest streak of outflows since records began in 2015.
Key Highlights:
Total Outflows: Over the past five weeks, crypto ETPs have seen cumulative outflows totaling $6.4 billion.
Bitcoin ETPs: Bitcoin-focused ETPs experienced $978 million in outflows last week, bringing the five-week total to $5.4 billion.
Ethereum and Solana ETPs: Ethereum ETPs saw $175 million in outflows, while Solana ETPs recorded $2.2 million in outflows.
XRP ETPs: Contrarily, XRP ETPs attracted $1.8 million in inflows, bucking the broader negative trend.
Regional and Issuer Insights:
United States: The U.S. led in outflows, with $1.2 billion exiting its crypto ETP market.
Europe: European provider 21Shares experienced the largest outflows among issuers, totaling $534 million.
BlackRock: The asset management giant saw $401 million in outflows last week, with month-to-date outflows reaching $594 million.
Conclusion:
The persistent outflows from crypto ETPs highlight a cautious sentiment among investors, reflecting broader market uncertainties. Despite these challenges, certain assets like XRP continue to attract investment, indicating selective confidence within the crypto market.
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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.
